Mining cryptocoins is an arms race that rewards early adopters.You might have heard of Bitcoin, the first decentralized cryptocurrency that was released in early 2009.Similar digital currencies have crept into the worldwide market since then.Today, there is very much a digital gold rush where people can make a small profit by investing a few hundred dollars in equipment, and then spend months mining for digital coins before any return on their investment sets in.Litecoins, Dogecoins, and Feathercoins are three Scrypt-based cryptocurrencies that are the best cost-benefit for beginners.At the current value of Litecoins, a person might earn anywhere from 50 cents to 10 dollars per day using consumer level mining hardware.Dogecoins and Feathercoins will yield slightly less profit with the same mining hardware but are becoming more popular daily.Is It Worth It to Mine Cryptocoins?As a hobby venture, yes, cryptocoin mining can generate a small income of perhaps a dollar or two per day.In particular, Litecoins, Dogecoins, and Feathercoins are very accessible for regular people to mine, and a person can recoup $1000 in hardware costs in about 18-24 months.As a second income, no, cryptocoin mining is not a reliable way to make substantial money for most people.

The profit from mining cryptocoins only becomes significant when someone is willing to invest $3000-$5000 in up-front hardware costs, at which time you could potentially earn $50 per day or more.litecoin gpu mining worth itNow, there is a small chance that Litecoins, Dogecoins, or Feathercoins will jump in value alongside Bitcoin at some point.ethereum gpu ratesThen, possibly, you could find yourself sitting on thousands of dollars in cryptocoins.dogecoin value right nowNote: the emphasis here is on 'small chance', with small meaning 'slightly better than winning the lottery'.black halo bitcoinIf you do decide to try cryptocoin mining, definitely do so as a hobby with a very small income return.bitcoin super pump free download

Think of it as 'gathering gold dust' instead of collecting actual gold nuggets.If your objective is to earn substantial money as a second income, then you are better off purchasing cryptocoins with cash instead of mining them, and then tucking them away in the hopes that they will jump in value like gold or silver bullion.How Cryptocoin Mining WorksThis brief tutorial below is written for beginning miners who want to keep up-front costs to less than a thousand dollars.bitcoin crash june 2011This tutorial focuses on mining 'scrypt' coins, namely Litecoins, Dogecoins, or Feathercoins.The whole focus of mining is to accomplish three things:Provide bookkeeping services to the coin network.Mining is essentially 24/7 computer accounting called 'verifying transactions'.Get paid a small reward for your accounting services by receiving fractions of coins every couple of days.Keep your personal costs down, including electricity and hardware.The Laundry List: What You Will Need to Mine CryptocoinsYou will need 10 things to mine Litecoins, Dogecoins, and/or Feathercoins.A free private database called a coin wallet.

This is a password-protected container that stores your earnings and keeps a network-wide ledger of transactions.A free mining software package made up of cgminer and stratum.A membership in an online mining pool, which is a community of miners who combine their computers to increase profitability and income stability.Membership at an online currency exchange, where you can exchange your virtual coins for conventional cash, and vice versa.A reliable full time internet connection, ideally 2 megabits per second or faster speed.A hardware setup location in your basement or other cool and air-conditioned space.A desktop or custom-built computer designed for mining.Yes, you may use your current computer to start, but you won't be able to use the computer while the miner is running.A separate dedicated computer is ideal.Tip: Do not use a laptop, gaming console or handheld device to mine.These devices are not effective enough to generate income.An ATI graphics processing card (GPU) or a specialized processing device called a mining ASIC chip.

The cost will be anywhere from $90 used to $3000 new for each GPU or ASIC chip.The GPU or ASIC will be the workhorse of providing the accounting services and mining work.A house fan to blow cool air across your mining computer.Mining generates substantial heat, and cooling the hardware is critical for your success.Personal curiosity.You absolutely need a strong appetite for reading and constant learning, as there are ongoing technology changes and new techniques for optimizing coin mining results.The most successful coin miners spend hours every week studying the best ways to adjust and improve their coin mining performance.Why Not Mine Bitcoins?If you had started mining Bitcoins back in 2009, you could have earned thousands of dollars by now.At the same time, there are plenty of ways you could have lost money, too.Now, Bitcoin mining is reserved for large-scale operations only.Over the past five years, the mathematical difficulty of discovering Bitcoins has grown far beyond what a regular individual can achieve at home.

The current up-front investment and maintenance cost to mine Bitcoins is no longer worth it for small-scale consumers.Unless you are willing to spend tens of thousands of dollars on industrial hardware and rent an air-conditioned office to house your hardware, there is no profit in mining Bitcoins.You are better off purchasing cryptocurrency with your regular money, and tucking it away in the hopes it will further climb in value.Litecoins and Dogecoins are the popular digital currencies that are still within the grasp of consumer-level users with hobby budgets, with Feathercoins being a good third option that is gaining traction.Reward-Drop ETA date: 18 Aug 2019 13:36:11 Litecoin's block mining reward halves every 840,000 blocks, the coin reward will decrease from 25 to 12.5 coins.You can watch an educational video by the Litecoin Association explaining it in more detail below:Difficulty: Litecoin Difficulty: 255,206 Estimated Next Difficulty: Adjust time: Hashrate(?): 7,525 GH/s Block Generation Time(?): Updated: Chart Explained The difficulty.

The estimated next difficulty.Average block generation time of 2016 blocks.Block generation time is also known as confirmation time.Average block generation time of 1008 blocks.If grey line less than blue line, The generation time is decreasing.The more grey line is lower than blue line, the faster generation time is decreasing.After 2016 blocks generated, Litecoin will adjust difficulty to estimated difficulty in order to keep the block generation time at 150 seconds.Difficulty History Date Difficulty Change Hash Rate Jun 24 2017 255,206 7,307 GH/s Jun 20 2017 271,188 7,765 GH/s Jun 17 2017 228,364 6,539 GH/s Jun 14 2017 230,315 6,595 GH/s Jun 11 2017 197,309 5,650 GH/s Jun 06 2017 252,311 7,224 GH/s Jun 03 2017 257,730 7,380 GH/s May 30 2017 241,458 6,914 GH/s May 27 2017 240,940 6,899 GH/s May 23 2017 241,295 6,909 GH/s May 20 2017 224,826 6,437 GH/s May 16 2017 232,424 6,655 GH/s May 13 2017 213,651 6,118 GH/s May 10 2017 189,979 5,440 GH/s May 07 2017 179,054 5,127 GH/s May 04 2017 163,669 4,686 GH/s May 01 2017 125,655 3,598 GH/s Apr 27 2017 146,318 4,190 GH/s Apr 24 2017 131,639 3,769 GH/s Apr 20 2017 132,016 3,780 GH/s Apr 18 2017 102,267 2,928 GH/s Apr 14 2017 93,016 2,663 GH/s Apr 11 2017 91,854 2,630 GH/s Apr 07 2017 102,136 2,924 GH/s Apr 04 2017 92,957 2,662 GH/s Apr 01 2017 87,421 2,503 GH/s Mar 28 2017 89,106 2,551 GH/s Mar 24 2017 94,375 2,702 GH/s Mar 21 2017 89,025 2,549 GH/s Mar 17 2017 93,785 2,685 GH/s Mar 14 2017 87,514 2,506 GH/s Mar 10 2017 88,482 2,534 GH/s Mar 07 2017 89,872 2,573 GH/s Mar 03 2017 98,387 2,817 GH/s Feb 28 2017 99,025 2,835 GH/s Feb 24 2017 92,302 2,643 GH/s Feb 21 2017 99,011 2,835 GH/s Feb 17 2017 95,184 2,725 GH/s Feb 14 2017 92,762 2,656 GH/s Feb 10 2017 98,674 2,825 GH/s Feb 07 2017 96,128 2,752 GH/s Feb 03 2017 102,399 2,932 GH/s Jan 31 2017 98,711 2,826 GH/s Jan 27 2017 99,114 2,838 GH/s Jan 24 2017 96,311 2,758 GH/s Jan 20 2017 95,319 2,729 GH/s Jan 17 2017 88,617 2,537 GH/s Jan 14 2017 83,632 2,395 GH/s Jan 10 2017 74,964 2,146 GH/s